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$1tn exports for India becoming $5 tn economy: Minister

  •   Wed, Jul 31 2019 09:31:55 PM

New Delhi, Jul 31 (IANS): Union Minister Piyush Goyal on Wednesday said that India's exports need to contribute at least $1 trillion for the country to achieve the target of a $5 trillion economy.

At an interactive session organised here by the Commerce & Industry Ministry on emerging opportunities to "enlarge India's exports to US and China", the minister urged manufacturers and exporters to come forward with data and details which directly and indirectly add to the cost of the products that are being exported like "cess paid on coal, electricity and royalty paid on mines".

Minister of Railways and Commerce & Industry Minister Goyal said that the ministry is working on making India's export products competitive and simplifying rules and regulations for easy availability of export credit.

He urged the EXIM community to flag issues regarding availability of land, labour, common effluent treatment plants, cluster development and logistics support required in ports, airports and customs to the ministry.
  

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  • Ozy, Mangalore

    Thu, Aug 01 2019

    Only talking and the ground report all are declining

    DisAgree Agree [2] Reply Report Abuse

  • Sunil Pinto, Dubai/ Udupi

    Thu, Aug 01 2019

    Besides India's raw materials like iron ore, or other minerals hardly any exports going from India. Okay, IT and ITES are there from Infosys, Wipro, HCL etc. but buck stops here. Many countries now challenging India for IT and ITES exports also. With Iron ore, Janardhana Reddy and other mafia dons illegally exported ship loads to china and became billionaires in Bellary...

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  • Krishna Dasa, Udupi,.

    Thu, Aug 01 2019

    It is fake news, Do not believe it from politicians. It is easy to have $1tn exports for India becoming $5 tn economy by devaluating Indian Rupees. Don't get fooled by your leaders. India will never benefit from export because almost all export business owned by Marwari, Gujrathi and Punjabi communities and these communities have strong foot hold in foreign countries so all profits from export will not be returned to India to prevent tax liabilities and income tax raids. All profits from export will be kept secure in foreign countries on tax shelters or invested in New York stock exchange. India has the liability of it's Billion plus population and limited natural resources. No mater how many trillions economy becomes the Rupees will be devaluated and Majority India will remain poor

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  • Jossey Saldanha, Nashville

    Thu, Aug 01 2019

    How many Zeros is $ 5 Trillion 😃 😂 🤣

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  • Valerian Menezes, Kota

    Wed, Jul 31 2019

    I think $ 5 trillion economy is a pipe dream without any road map to achieve it.

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  • Rakesh, Mangalore

    Wed, Jul 31 2019

    Because of Indian Govt's Ease of Doing Business initiatives CDC lost its founder...!!!

    Economy is going downwards, businesses are running under losses, everyone facing cash crunch, liquidity crunch and this minister is day dreaming of $5 Trillion...!!

    It will be a million doller question if this minister knows how many zero required to make 1 Trillion...!!!

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  • Mr Clean, Mangalore

    Wed, Jul 31 2019

    How easy it is. Why earlier govts couldn't do this?. Only BJP can do this just by the finger tips numbers available and tip of the mouth words sitting comfortably in AC room. Modi Hai Tho Momkin Hai if you are blind and dumbo.

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